10 - Resolution-Approving Addendum to Tax Abatement Agreement dated February 25, 2017 with Campbell Soup

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X Default, If the City determines that the parson or entity receiving an abatement is in default according to tate terms and conditions of its agreement, the city shall notify the company or individual in writing at the address stated in the agreement, and if such default is not cured within a reasonable time specified in such notice ("Cure Period"), then the agreement may be modified or terminated without further notice. In the event the company or individual allows its ad valorem taxes owed to the City to become delinquent and fails to timely and properly follow the legal procedures for their protest and/or contest, or violates any of the terms and conditions of the agreement and fails to cure during the Cure Period, the agreement then may be modified or terminated without further notice, and the agreement may provide a formula for recapture of all or pert of the taxes abated. At any time before the expiration, any tax abatement agreement may be terminated by mutual consent of all parties involved in the same manner that the agreement was executed. M. Confideadality of Proprietary Information. information that is provided to a taxing unit in connection with an application or request for tax abatement under these Guidelines and that describes the spoW fie processes or business activities to be conducted or the equipment or other property to be located on the Property for which tax abatement is sought is confidential and not subject to public disclosure until the agreement is executed. Such information in the custody of the City after the agreement is executed is not confidential under these Guidelines. XLL Proposed Tax Abatement Agreements to be decided on an Indiavidual Basis. The adoption of these Guidelines by the City does not limit the discretion ofthe City Council to decide whether to enter into a specific tax abatement agreement; or limit the discretion ofthe City Council to delegate to its employees the authority to determine whether or not the City should consider a particular application or request for tax abatement, or create any property, contract, or other legal right in any person or entity to have the City Council consider or grunt a specified application or request for tax abatement. XE1Lhqwadons- The agreement shall stipulate that employees and/ or designated representatives ofthe qty will have access to the Reinvestment Zone during the term of the agreement to inspect the Authorized Facility to determine if the terms and conditions of the agreement are being met. All inspections will be made only after the giving of at least twenty-four (24) hours" prior notice and will only be conducted in such a manner as to not unreasonably interfere with the construction and/or operation of the Authorized Facility. All inspections wil l be made with one or more representatives of the company or individual and in accordance with its safety standards. Upon completion of construction, the City shall annually evaluate and Authorized Facility receiving abstemert to ensure compliance with the agreement and report possible violations ofthe agreement to the City Council.